Westlake
Links chemical feedstocks to materials, building products, pipe and fittings across an integrated portfolio.
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Profile
Supplies PVC, polyethylene and epoxy materials alongside building products, pipe, fittings and compounds through two integrated segments. Manufacturing spans North America, Europe and Asia, while feedstock and energy costs, construction demand, plant safety, environmental permits and Chao-family voting control shape the business.
Combines Housing and Infrastructure Products with Performance and Essential Materials, linking chemical feedstocks to PVC, polyethylene and epoxy materials and onward to building products, pipe, fittings and compounds. The integrated chain serves construction, packaging, healthcare, automotive, water treatment, wind turbines and coatings.
Operates product-development and manufacturing facilities across North America, Europe and Asia, with most employees based in the United States. Acquisitions broadened the downstream building-products platform and added global epoxy capabilities while preserving integration from ethylene and chlor-alkali into finished materials.
Depends on feedstock and energy costs, cyclical prices and volumes, construction demand, safe continuous plant operation and environmental permits. Chao-family voting control also shapes governance, while acquired-asset integration and unresolved wastewater enforcement remain structural operating factors.
Company facts
Categories
Key statistics
Year to date +2.2% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | RBC Capital | Reiterate | Outperform | $145 | $95 | |
| Jul 16, 2026 | Goldman Sachs | Target | $78 | $85 | ||
| Jul 6, 2026 | BMO Capital | Reiterate | Market Perform | $83 | $96 | |
| Jul 2, 2026 | Morgan Stanley | Reiterate | Equal Weight | $106 | $92 | |
| Jun 5, 2026 | UBS | Reiterate | Buy | $130 | $117 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $1.83 | $2.01 | +9.8% | $3.24B | $3.27B | +0.8% | +15.37% |
| May 5, 2026Q1 FY26 | −$0.22 | −$0.77 | −250.0% | $2.79B | $2.65B | −4.8% | −4.82% |
| Feb 24, 2026Q4 FY25 | −$1.47 | −$0.25 | +83.0% | $2.61B | $2.53B | −2.9% | −1.04% |
| Oct 30, 2025Q3 FY25 | $0.18 | −$0.29 | −261.1% | $2.61B | $2.84B | +8.8% | +0.76% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.85B | $2.95B | $2.84B | $2.53B | $2.65B | $3.27B | |
| Gross profit | $232.0M | $258.0M | $236.0M | −$437.0M | $82.0M | $652.0M | |
| Operating income | −$32.0M | −$109.0M | −$766.0M | −$671.0M | −$154.0M | $364.0M | |
| Net income | −$40.0M | −$142.0M | −$782.0M | −$544.0M | −$169.0M | $260.0M | |
| Diluted EPS | −$0.31 | −$1.10 | −$6.10 | −$4.22 | −$1.31 | $2.01 | |
| Gross margin | 8.2% | 8.7% | 8.3% | -17.3% | 3.1% | 19.9% | |
| Operating margin | -1.1% | -3.7% | -27.0% | -26.5% | -5.8% | 11.1% |
Fiscal years (4-quarter sums)FY21 $11.78B · FY22 $15.79B · FY23 $12.55B · FY24 $12.14B · FY25 $11.17B
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $1.85B · Total debt $5.75B · Total assets $19.44B · Shareholders' equity $8.71B
Dividends
Raised for 20 straight years — most recently to $0.533 from $0.53 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 25, 2026 | Aug 25 | Sep 10 | $0.533 | raised from $0.53 |
| May 27, 2026 | May 27 | Jun 11 | $0.53 | |
| Mar 3, 2026 | Mar 3 | Mar 18 | $0.53 | |
| Nov 25, 2025 | Nov 25 | Dec 11 | $0.53 | |
| Aug 19, 2025 | Aug 19 | Sep 4 | $0.53 | raised from $0.525 |
| May 20, 2025 | May 20 | Jun 5 | $0.525 | |
| Mar 4, 2025 | Mar 4 | Mar 19 | $0.525 | |
| Nov 26, 2024 | Nov 26 | Dec 12 | $0.525 |
Ownership
Shares outstanding 128.12M · Float 33.03M · 25.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 3.29M | 2.57% | 13F | Aug 7, 2026 |
| Capital World Investors | 2.84M | 2.22% | 13F | Aug 12, 2026 |
| Price T Rowe Associates Inc /MD/ | 2.21M | 1.72% | 13F | Aug 14, 2026 |
| Orbis Allan Gray Ltd | 2.08M | 1.63% | 13F | Aug 14, 2026 |
| Dimensional Fund Advisors LP | 2.05M | 1.60% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Albert Chao | director, officer: Executive Chairman | −38,873 | $80.28 |
| Mar 27, 2026 | Robert F. Buesinger | officer: EVP, PEM Segment Head | −4,000 | $115.25 |
| Mar 27, 2026 | Mark Steven Bender | officer: EVP & CFO | −16,413 | $112.54 |
| Feb 27, 2026 | Mark Steven Bender | officer: EVP & CFO | −17,409 | $100.92 |
| Dec 22, 2025 | Albert Chao | director, officer: Executive Chairman | −40,836 | $73.57 |
Peers
- Olin
Overlaps in chlor-alkali, vinyl intermediates and epoxy materials
- Dow
Large-scale rival in ethylene and polyethylene
- James Hardie Industries (ADR)
Exterior-building rival in siding, trim and low-maintenance decking
- LyondellBasell
Global rival in ethylene and polyethylene markets
- Huntsman
Epoxy materials rival across coatings, composites and infrastructure
- Trex Company
Direct rival in low-maintenance residential decking
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Westlake | $75.71 | −0.07% | $9.70B | — | 19.9 | 0.9 | +10.8% |
| Olin | $17.26 | +0.64% | $1.95B | — | 51.4 | 0.3 | −0.9% |
| Dow | $30.50 | −0.02% | $22.04B | — | 12.2 | 0.5 | +19.7% |
| James Hardie Industries (ADR) | $29.50 | −1.47% | $17.37B | 118.7 | 21.5 | 3.2 | +63.9% |
| LyondellBasell | $63.72 | +0.07% | $20.55B | — | 7.8 | 0.7 | +19.8% |
| Huntsman | $9.55 | +0.79% | $1.66B | — | 325.5 | 0.3 | +14.1% |
| Trex Company | $45.77 | −0.01% | $4.76B | 27.2 | 23.8 | 3.9 | +7.8% |
| Median | 73.0 | 22.7 | 0.6 | +16.9% |